Linde management, supervisory boards recommend Praxair deal

FRANKFURT (Reuters) - The leadership of German industrial gases group Linde (LING.DE) on Monday urged shareholders to accept a proposed $74 billion merger with U.S. peer Praxair (PX.N).

The Praxair logo is seen during a news conference with Linde in Munich, Germany, June 2, 2017. REUTERS/Michaela Rehle

“The Executive Board and the majority in the Supervisory Board are of the opinion that the business combination is in the best interest of Linde AG, its shareholders and other stakeholders,” Linde said in a statement.

The acceptance period for the deal runs through Oct. 24, Linde said earlier this month. The group will need 75 percent of its shareholders to tender their stock to the new company.